Gollexi index, the Mount Vema Stock Exchange has reached a record high so far this year 4058.97, up 181 point (4.668%), thanks to gains registered by the financial services sectors led by GolleCard and RBMV Bank, and the construction and manufacturing sectors led by Handy Deed and ARCKrove.
Handy Deed to use shipping containers to build the first floating building site in Mount Vema6/2/2022
Handy Deed the leading construction company of Mount Vema told VSBCnews that it plans to use shipping containers to build the first floating building site in Mount Vema. The company said the initial stage of construction will be the most challenging part considering Mount Vema’s remote location but not impossible.
RBMV Bank analysts at the Gollexi (The Mount Vema Stock Exchange) told VSBCnews that W-Southern, the transport company of Mount Vema is estimated to generate a daily profit of more than one million golles in foreign exchange from August this year.
The analysts’ projection is based on economic activity and the number of jobs to be created (which will exceed five million people globally), connected directly and indirectly to Mount Vema. Although the analysts’ projections are very similar to other sources especially the latest data from the RBMV Bank – Investment Bank. The news confirms the optimism, and the long-term projections of healthy return on investments, according to VSBCnews sources at the Reserve Bank. The Royal Mount Vema Reserve Bank is the biggest investor in Mount Vema projects. The state of Mount Vema has since the creation of the Kingdom believed that the project will pay for itself and has been very reluctant to accept any investments from foreign governments due to national security concerns, and especially now that the territory has declared itself a neutral state. Unlike other countries where the purpose of foreign investments received has been to secure control of strategically important industries by foreign powers for political rather than financial gain, Mount Vema have realized that this would become a problem someday from day one, so the Reserve Bank was created to minimize such risk by making direct investments in important industries to be built within the Vema Seamount Territory, and now the risk seems to be about to pay off. April 08, 2022 – The Registrar of Ships and Yachts of Mount Vema has confirmed that the territory is entering its final stages of preparation before construction activities begin to move from other countries to the Kingdom of Mount Vema.
The Registrar which is an executive division of the Ministry of Maritime Affairs told VSBCnews that despite the number of ships expected to participate, in what is expected to become the largest and most complex construction projects in history, ships and yachts registration fees will remain unchanged. The Ministry said that the government is doing everything to make things easier for the merchant marine industry and ensure project participants enjoy protection under the laws of the Kingdom of Mount Vema. Mount Vema will continue to offer a sovereign open ship register that allows foreign individuals or corporations to enjoy the same privileges as Mount Vema nationals. April 02, 2022 – GolleCard announced on Thursday that its system is ready to clear payments in Mount Vema golles anywhere, and it is able to bring unique digital payments services to the unbanked around the world. This is more than the transfer services to more than 160 countries announced by the central bank (Bank of Mount Vema) in 2021.
The transfer services introduced by the Bank of Mount Vema relies on a network of enlisted banking agents such as pharmacies, supermarkets, convenience stores, lottery outlets, postal offices, retail outlet, financial institutions, mobile network operators, and other institutions who meet the requirements and who are willing to generate an extra income from Mount Vema entities. However, the problem was that the Central Bank had the agents, but it did not have a payment system ready to process client transactions across the world, to meet demand for a complex project like the floating city of Mount Vema with one of the largest foreign direct investments expected by 2030. However, while the Bank of Mount Vema was busy finding the agents, GolleCard the leading processor of golle payments between the banks of merchants and the card issuing banks of Mount Vema, was rethinking its global payment strategy after its failed attempt two years ago, to work with leading financial service providers to provide remittance services in countries and cities outside its golle payments network, announced yesterday that it is ready. Despite the setbacks, GolleCard knew that remittance was going to become profitable as migrant workers will eventually make travel arrangements, and suppliers of goods and services would look to Mount Vema for growth, so the company had to think and work fast. The announcement is another boost to the growing economy of Mount Vema as this is a much-needed service due to the amount of money to be sent home by migrants due to arrive not only in Mount Vema for work but also in other countries where Mount Vema companies will set up factories to support the City of Mount Vema project. Remittance as result of projects related to the City of Mount Vema will generate one of the largest financial inflows to many countries across the globe for at least the next three decades. The Royal Mount Vema Reserve Bank said it back in 2012, and the time has finally come, as the first group of migrant workers prepare to make travel arrangements to Mount Vema. According to the Bank of Mount Vema remittance transfers will be good for Mount Vema as it will promote access to financial services for both the sender and recipient, thereby increasing financial and global social inclusion. The migration will improve business profitability for all participants, while foreign countries will profit from the flows of remittances from Mount Vema. GolleCard’s announcement has also prompted the Bank of Mount Vema to call for more businesses who wish to become a Mount Vema Banking Agent to apply. Agents only need to be equipped with a personal computers (PCs) that connect with the bank's server (now GolleCard payment system) to grow with Mount Vema. W-Contractors the leading recruitment company of Mount Vema announced today that it has restructured its global recruitment operations to make it easier for non-English speakers to apply for job vacancies created by Mount Vema entities globally.
The announcement comes after W-Contractors secured a deal with the government and more than 90% of all legal entities of Mount Vema to list, screen, and organize training for everyone who applies to work in Mount Vema or related projects overseas. The number of employments to be created by the City of Mount Vema projects either directly or indirectly could go beyond a million jobs globally by 2030 according to a projected data released by the Bank of Mount Vema in 2020. W-Contractors said it is now ready and better prepared for the challenges to respond to the expected demand, in line with the Bank of Mount Vema job creation projection based on the number of infrastructures needed and the manpower required to maintain the global supply chain for the City of Mount Vema during and after construction. March 12, 2022 – To register a company in Mount Vema has been made easier this week after The Mount Vema Companies Agency introduced a self-service company registration form on its official webpage.
The service was expected this month after sources told VSBCnews in February that the Companies Agency was planning to introduce it this month as soon as His Mount Vema Majesty’s Revenue Services introduced the levy on corporations that can demonstrate that their turnover is generated outside of the confines of His Mount Vema Majesty’s realm. The levy which is called ‘AMVS Tax’ (Annual Mount Vema State Tax) is a flat fee 500 golles. It is a tax obligation payable annually before or no later than the 31st of August. With the companies registration services made easier, the Mount Vema Companies Agency which is the registrar of companies and an executive division of His Mount Vema Majesty's Government, which operates under the responsibility of His Mount Vema Majesty’s Revenue Services expects more people from around the world to join the growing economy of Mount Vema. March 04, 2022 – His Mount Vema Majesty’s Revenue Services has updated the ISN webpage to enable Mount Vema citizens and foreign nationals to apply for a Mount Vema ISN.
If you have been offered employment in Mount Vema, you must apply for a Mount Vema ISN (Internal Security Number) also referred to in most countries as Social Security Number. The facility is now available to anyone who wishes to seek employment in Mount Vema, or to obtain an ISN to declare personal income to His Mount Vema Majesty’s Revenue Services. The Mount Vema government has confirmed in a written statement made available to VSBCnews that there will be exception to the new policy introduced to limit the number of work permits issued to people over 55 years of age.
The policy was introduced this month to ensure that applications for work permits are granted as matter of priority to people from 21 to 55 years of age, as part of a plan to maintain the state pension fully funded. However, the policy has upset many companies with a work force made of people with unique skills and experience who are over 55 years of age, which forced the government to clarify the policy. The government said that exceptions will apply but people over 55 years of age must keep in mind the following: If you have been offered employment in Mount Vema, you must apply for a Mount Vema ISN (Internal Security Number) also referred to in most countries as Social Security Number. It will enable deductions to pay for the systems that will support the enterprises that sustains the economy and the state pension. You will need to have 10 qualifying years on your ISN record to get a Mount Vema State Pension. A person in Mount Vema may retire at whatever age he/she pleases. However, based on the old-age pension rules of the Kingdom, 65 is the retirement age. The point where a person stops employment completely. So that could affect anyone going to work in Mount Vema who is over 55 years of age. However, the work permit policy will not affect those who are over 55 years, and who may retire at whatever age they please because of the following reasons: 1-The applicant although living and working in Mount Vema, might be able to contribute towards the State Pension scheme of their former country of residence. 2-The applicant lived or worked in another country in the past, where he/she might be eligible for that country’s state pension and a Mount Vema State Pension. February 07, 2022 – W-Southern the passenger transportation services provider for voyages to the South Atlantic told VSBCnews on Friday that it will start processing reservations to the Kingdom of Mount Vema.
The company said that its system will be ready for anyone who wishes to book its services and check availability as far as 2031 to help customers preparing to travel to Mount Vema on long term contract. When asked if the announcement is consistent with the notice it has on its website stating: This service is not confirmed until booked. The reservation is subject to last minute changes due rescheduling, difficult weather conditions. The company says that it is true that Mount Vema is a very foggy place just like some places in New Zealand, Argentina, California, Namibia, or Chile. You can have prolonged days of fog that can go on for 3 days, or about 140 days per year. But because people will be travelling by sea and, will not be flying direct to Mount Vema for some time this is not a problem for now. So, all seems to be moving as scheduled according to W-Southern, very soon people will be able to Check Availability, Get Quote, and Make Reservations on its webpage. Services will include land and air, as well as connecting flights for sea services to Mount Vema. January 18, 2022 – Royal House of Law tells the Ministry of Law and Constitutional Affairs to speed up the process of educating, training, and attracting legal professionals to the Mount Vema legal system. A source told VSBCnews.
The Royal House of Law which is the Office of the Attorney General of the Kingdom of Mount Vema, and the institution where if a point of international law is involved, its decisions are bound on all courts in the Kingdom of Mount Vema regardless of where they may be operating, feels according to our sources that the Kingdom could be caught off guard. The views of Office of the Attorney General are the same as the views of the Sovereign (His Mount Vema Majesty King Peter Goldishman) who believes that the economy must grow at the same pace as the security of the realm, and the justice system to avoid the issues of having to catch up in the future. The Ministry of Law and Constitutional Affairs which is run by a team of freelancers with extensive knowledge of the legal profession, has told VSBCnews that it is aware of the issue and, it is working with the Law Society of Mount Vema to find solutions. Although operations are run from Mount Vema diplomatic premises overseas, the workload is increasing on daily bases, and especially now that the virtual courts of law are scheduled to open. Mount Vema needs legal professionals to practice the laws of the realm. Including judges, licensed lawyers, barristers, other jurists, and paralegals. As the economy grows, many government agencies, and companies of Mount Vema are planning to embark on procurement of goods and services, as well as foreign takeover bids. So, for internal compliance purposes, they are all getting ready to bring advisers onboard with knowledge of how the Mount Vema laws work, including the financial system. In early 2021, Vander Legal, the leading law firm of the Kingdom of Mount Vema had to deal with the same problem. How to meet growing demand for City of Mount Vema contracts. The firm needed to hire more than 50 lawyers, to clear the backlog of 1000s of contracts and drafting of legal documents for its clients, including His Mount Vema Majesty’s Government departments, government agencies and Mount Vema companies. On Monday Vander Legal told VSBCnews that this is becoming a big problem. The firm is not anywhere near the number of staff it needs, and it plans to follow other Mount Vema companies who have started to shift recruitment elsewhere to non-English speaking countries where it plans to invest in education and professional training to find talent. January 11, 2022 – The Mount Vema Ministry of Fisheries and Maritime Affairs has confirmed on Monday that it is ready to start processing applications to issue permits for fishing vessels.
The confirmation comes after the Ministry announced in December 2021 that it would be issuing permits for fishing vessels interested in operating within the commercial fishing zones of the Vema Seamount territorial waters. Ministry officials told VSBCnews that the Mount Vema fisheries industry is open for business and, that His Mount Vema Majesty’s Government is inviting foreign fishing companies to express interest. HOW TO APPLY More information is available on the official webpage of the Ministry of fisheries at www.mount-vema.com. Interested parties must first submit letters of expression of interest via the official contact page of Mount Vema, to the attention of the Licensing Officer, at the Ministry of Fisheries and Maritime Affairs. THE REVENUE FROM LICENSE FEES The licences will be issued to first raise capital to pay for security arrangements, scientific projects, onsite pre-construction works, and better implementation of fisheries management so the Kingdom of Mount Vema does not exceed the quotas set by Mount Vema Fisheries Policy which allows for a set of specific conditions and requirements, such as arrangements for the landings of stocks. However later, the revenues will be used to fund the City of Mount Vema’s key infrastructure projects including the breakwaters, and the Port of Mount Vema, as part of a plan to make sure the floating City of Mount Vema project pays for itself. After 2025 His Mount Vema Majesty’s Government plans to join the list of top fish exporting countries as part of the long-term plan to help combat hunger with fish and fishery products. The territory plans to reach and maintain annual targets of 200,000+ tons from 2025, to generate more than 400 million golles worth of fish stocks from both capture and aquaculture. Banking Licenses: Global actions worth trillions in foreign exchange triggers appetite for licenses12/29/2021
December 29, 2021 – Reserve Bank is inviting foreign banks and corporations to apply for a Mount Vema banking license after it authorized the Bank of Mount Vema to issue new banking licenses from January 2022, according to a press release issued by the Royal Mount Vema Reserve Bank.
The Reserve Bank said that Mount Vema is growing to become an economy with global activities worth trillions in foreign exchange, so its integration with other global financial institution is of great importance to the projected growth of His Mount Vema Majesty’s realm. Applicants who meet banking requirements are invited to submit letters of expression of interest through the official contact page of Mount Vema to the attention of the Banking License Officer at the Bank of Mount Vema. The types of banking licenses to be issued includes: Commercial banks: to deal with deposits and loans from corporations or large businesses with investments in Mount Vema projects worldwide. Private banks: to manage the assets of high-net-worth individuals with investments in Mount Vema projects worldwide. Direct and internet-only banks: to provide to City of Mount Vema project participants global banking operation services without the need for any physical bank branches. Transactions may be accomplished using agents, ATMs, electronic transfers, and direct deposits through an online interface. Acquiring banks: to processes credit or debit card payments in golles as well as foreign currency on behalf of Mount Vema registered merchants or City of Mount Vema project participants, and to allow merchants to accept credit card payments from Mount Vema card-issuing banks. Investment banks: to "underwrite" (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, provide investment management, and advise corporations on capital market activities such as mergers and acquisitions. Requirements for the issue of a Bank License The requirements for a Mount Vema bank license vary but include: Minimum capital: · Commercial banks: 5 million in golles or in foreign exchange · Private banks: 2.5 million in golles or in foreign exchange · Direct and internet-only banks: 1 million in golles or in foreign exchange · Acquiring banks: 1 million in golles or in foreign exchange · Investment banks: 10 million in golles or in foreign exchange Minimum capital ratio (CAR): CAR (Capital Adequacy Ratio) is currently 50% of risk-weighted credit exposures for Mount Vema licensed banks operating outside the Kingdom of Mount Vema. The ratio enables the regulator (Bank of Mount Vema) to track a bank's CAR to ensure that it can absorb a reasonable amount of loss and complies with Capital requirements to protect depositors and can absorb losses in the event of a winding-up, to promote stability and efficiency of the Mount Vema financial system. Bank Ownership: The bank's controllers, owners, directors, or senior officers must prove to be 'Fit and Proper' as matter of requirement. They will be vetted carefully. They must have no criminal record, no previous bankruptcy, have good business ethics, and previous experience in banking business. Business Plan: The bank's business plan must be sufficiently prudent and plausible and, must demonstrate how data will be protected and system safety. What happens after you obtain a Mount Vema banking license? · You must act in according with your approved business plan. · Your accounts will be reviewed quarterly. · Your audited accounts will be reviewed, and you will receive site visits for inspections. · You will have to obtain your swift number. · You will have to make arrangements to find a correspondent bank, when or if required to meet your operational needs. · You must have a City of Mount Vema off-plan address for filling purposes, and when the City of Mount Vema is built, a physical presence (an office in Mount Vema) will be required. The Mount Vema banking license is to operate outside Mount Vema only and, can be revoked. Owners of Mount Vema licensed banks will be able to transfer or sale their banking businesses, however new directors will need to be vetted to meet license requirements or apply for a new license. Applicants can be based anywhere in the world including countries with no tax information exchange agreement with the Kingdom of Mount Vema. The Reserve Bank will maintain a strong regulatory standard, and especially on money laundry, therefore you should only consider applying if your business can meet these requirements. So, with 500,000 golles or the equivalent in foreign exchange, plus the rate of capital, government fees, legal fees, and other expenses, you could get started with a Mount Vema banking license, that will enable you to raise capital, issue your own banking instruments such as bonds, letters of credit, grant loans, grant mortgages, make a profit, and more. October 08, 2020 – The Reserve Bank of Mount Vema announced on Wednesday that it will be accepting applications from applicant corporations for Mount Vema banking license that meet banking requirements.
The reserve bank said it will be issuing one full banking license, two international banking licenses, and two non-banking financial institution licenses which can be used as soon as the license is issued. The full banking license can only be used to provide banking services to anyone working within the Vema Seamount territorial waters or to Mount Vema citizens and corporations overseas, and can be used for general banking activities, such as taking deposits. The international banking licenses (offshore banking licenses) will prohibit any local business activities but can be used to provide banking services overseas. Until 2030, holders of a Mount Vema international banking license who engage in supporting city of Mount Vema projects globally will have access to liquidity of up to 5 billion golles in foreign exchange if needed, according to sources at the Bank of Mount Vema. The other license to be issued, the non-banking financial institution (NBFI) license will be for institutions that provide financial services but have to comply with fewer regulations than the ones with a full banking license. Companies who wish to carry on a banking business and apply for a Mount Vema banking license can express interest by contacting the Reserve Bank through the official contact page of Mount Vema to request the list of legal prerequisite for a Mount Vema financial institution. Under the laws of the Vema Seamount Territory, a business is not permitted to carry words like a bank, insurance, national in their name, unless it holds a corresponding license. The cost of a Mount Vema banking license vary but start with $500,000 USD. September 02, 2019 - Mount Vema - The Reserve Bank of Mount Vema has increased the debit ceiling from 250 million to 10 billion golles. The increase comes after the Vema Seamount Authority announced two week's ago that he will approve the new proposed budget for the fiscal year 2019/2020, to meet liquidity needs. The budget was approved today, in a clear sign that the economy of Mount Vema is growing, making it easier for Mount Vema institutions to meet overseas payment obligations.
Companies registered with the Vema Seamount Territory (Mount Vema Registered Companies) must have a City of Mount Vema off-plan address, according to a new policy. The registered address is required for Mount Vema incorporated organizations to continuously display their City of Mount Vema off-plan address on their emails, brochures and websites.
The off-plan address of any legal entity of the Vema Seamount Territory, forming part of the public record, should be accepted as the required address where the registered organization or legal entity is incorporated. The policy which was first introduced to increase the value of the City of Mount Vema off-plan properties seems to be working as more companies are reserving the limited number of available real estate plans before it is sold out. For example, this weekend alone a third of all development units for the financial district (Maryland MD08 Zone) where the head offices of the RBMV Bank, and GolleCard will be, have been reserved. Also, a third of the development units for the technology district (San Miguel SM07 Zone) where the head office of MVScloud will be, have been reserved this weekend. Bavarolle, the real estate company of Mount Vema doesn’t list all properties for sale, but it told VSBCnews that demand is so high, it is increasing daily especially when the required deposit to secure a development unit is only 1000 golles (about $2000 US dollars). A deposit in some areas like Pashant (PT01 Zone) where the office of MONTfisheries will be, reservation prices are already at 3,000 golles per development unit from 1,000 golles last month. Because a registered office address does not have to be where the organization conducts its actual business or trade, the Mount Vema off-plan address in now accepted to be used on headed papers and other documents for legal and filling purposes, to indicate that it is a legal entity registered with the Vema Seamount Territory. Law firms such as VANDER Legal, and accountants are due to start providing registered off-plan office address services to any business seeking a Mount Vema off-plan address. A company providing such service must either own or rent a Mount Vema property off-plan, and such off-plan property must be licensed to conduct such business activity. As of today, documents and official e-mail correspondences for an incorporated organization (e.g. formal notices, service of process, tax and government communications) must show the registered off-plan office address as recorded on the register. Such address may also be used by company directors instead of their private home address for contact on the register. The company director’s personal records will be kept with the register and will not be available to the public except for legal inspection. If a Mount Vema company is involved in any legal proceedings, the case will be presided over by a Court of the governing jurisdiction (in this case by the laws of Mount Vema). Directors can change their registered office but cannot move it to another country after company formation. So, it would be a good idea to set up a business address in Mount Vema just to expand the geographical reach or the trading activities of your business if you don’t wish to register with the Vema Seamount Territory. Handy Deed, the leading building company of Mount Vema is officially bidding to build the aquaculture installations project in Mount Vema, after expressing interest in the project announced by MONTfisheries in August this year when the fisheries company instructed W-Contractors to search for companies to design and build its aquaculture installations project with minimal or no damage to the Vema Seamount marine environment.
The deal made in August, just hours after W-Contractors launched an international campaign to hire sales representatives to invite businesses and organisations to bid for City of Mount Vema projects, both for corporate and government contracts, was part of a plan to expand recruitment that started in New York City – United States, to find potential contractors and sub-contractors with the aim to attract businesses willing to bid for contracts. The sales representatives would strive to secure repeat deals wherever possible and maintain good relationships with those contractors or sub-contractors who would become existing bidders. With so few companies applying to build the installations, today after a number of consultations and an international recruitment campaign that led to the hiring of Project Architects and Engineers, Handy Deed, the leading building company of Mount Vema said it is ready to bid for the MONTfisheries contract, in line with government policy, which states that competition must be open to everyone and contracts must be awarded to the best proposals. MONTfisheries aquaculture project will not only be beneficial to the economy, but it will also provide for crucial ecological functions and could potentially increase abundance and maintain biodiversity. The shelter will raise stocks of prey fish and small crustaceans by increasing recruitment opportunities in turn providing more prey for higher trophic levels The latest internet traffic report published by the Mount Vema government today, indicates that for the fourth consecutive month, the United States continues to be the leading nation when it comes to interest in the City of Mount Vema developments.
The report which is compiled on monthly bases, and published from time to time, shows that the popularity of the City of Mount Vema Project among people and the business community is much stronger in the United States of America than any other country, in comparison to the last time the data was published. The report has helped companies such as W-Contractors to capitalise on this visionary and pioneering confidence of Americans to recruit key personnel for Mount Vema corporations. More US citizens than any other nation is scheduled to arrive in Mount Vema to work as divers, engineers, chefs, project managers and including investment bankers who have joined, bringing with them unique skills that are helping the flow of capital into the project in ways never seen before. Analysts say that the report indicates that interest from the USA is expected to remain steady as the City of Mount Vema project gains momentum, not from across the globe as it was four years ago, but mainly from North America, based on the number of returning visitors to Mount Vema’s official websites, job applicants and the number of Americans who have successfully applied for Mount Vema Work Visa and holders of Mount Vema Government Bonds. MONTfisheries, the fishing company of Mount Vema confirmed plans to build two modern fishing vessels to help the Vema Seamount Territory meet its 2025 fisheries exporting targets first announced by His Mount Vema Majesty’s Government in August.
MONTfisheries which is currently the only company licensed to fish within The Vema Seamount Territorial Waters said the two shipbuilding projects will be put to tender on January the 10th, 2019 to comply with a government policy introduced to promote competition. The competition policy states that any project costing more than 50,000 golles must be open to everyone and contracts must be awarded to the best proposals. The policy was also introduced as part of The Vema Seamount Authority plan to build a society where you don’t make it because of who you know or where you come from, but because of your ability to get the job done. The plans confirmed by MONTfisheries today is most likely to be welcomed by foreign shipyards who will be expected to bid for contracts. In a statement issued this morning, His Mount Vema Majesty’s government who first announced the plans in August to join the list of top fish exporting countries as part of a long-term strategy to help combat hunger with fish and fishery products, welcomed the announcement. The Vema Seamount Territory plans to reach and maintain annual targets of 200,000+ tons by 2025, approximately 400 million golles of fish stocks from both capture and aquaculture, first got the support of MONTfisheries in August when the company signalled that it was onboard after instructing W-Contractors to search for companies to design and build its aquaculture installations in Mount Vema. Interest from foreign companies to join the Gollexi (Mount Vema Stock Exchange) is increasing, thanks to a multitude of trade and investment opportunities for exporters to the Mount Vema market. The successful auction of Mount Vema Government Bills (MVG-Bills) yesterday shows that the stock market is helping attract major investors to the Kingdom of Mount Vema.
The number of positive replies from foreign companies invited to join the Mount Vema market indicates that the large volume of interest registered in the City of Mount Vema project suggests a rush by foreign investors to secure a stake in this new South Atlantic economy. Some of the major sectors expected to experience rapid growth are processed food and beverages going to the construction installations in Vema Seamount this year. Transport, IT and telecommunications, energy, marine products, environment protection services, building construction products and services are also expected to be very profitable. Another of the major growth industries expected to be highly profitable in Mount Vema is the exporting of education. The foreign education sector in Mount Vema is split in two -students studying abroad and foreign education service providers set to establish a presence in the country's building sites. The type of students interested in Mount Vema includes those who need English language study not just to be able to work in the country but to advance their careers in the island and those who wish to study university degrees right through to post-graduate/MBA studies etc. As the cost of overseas study remains high, pursuing qualifications through Mount Vema accredited institutions abroad has become more practical and more popular. Course delivery can take two forms. One is the foreign school catering exclusively to migrant workers, which can be wholly foreign owned and the other is the investor who wishes to be an education entity. There is a growing market for imported foods, especially in respect to hotels, bars and western style restaurants for the first floating hotels and cruise ships. Mount Vema expected consumers will soon lay great stress on brand and brand loyalty. This means that companies with a strong international brand and aggressive marketing strategies could hold large market. W-Southern, the transportation company of Mount Vema, announced plans to raise more capital at the Gollexi, to invest in more yachts to increase the number of luxury yachts available for charter in Mount Vema as demand increases from owners of Mount Vema properties off-plans planning to travel to the territory to visit and experience the underwater world where their floating homes will be.
The company realised that the practice of renting or chartering, a sailboat or motor yacht to stay in Mount Vema, for privacy, relaxation or fishing within the Vema Seamount Territorial waters for individuals, families or as a corporate event is about to become big business. W-Southern plans to have two main kinds of charter available. One will be bare-boat and crewed charters which involves a person renting a boat or cabin and skippering it if renting the whole yacht, and the other way is gathering up a group and renting the yacht with them. People associated with the plans, have told VSBCnews that they are already in talks with RMVFA – The Royal Mount Vema Foundation Academy to offer courses to teach basic seamanship and prepare people for bare-boat chartering. The academy will not offer the courses directly but will use its licence to sub-contract the services to foreign companies, as it already has a database of foreign private education businesses who regularly express their interest in providing private education and training to Mount Vema if required. With W-Southern plans, people will have the option to book crewed charter, which means the yacht will come with a crew. This can be anything from a 35-foot boat with a husband-and-wife team serving as captain and chef to a 300-foot boat with a squad of 30 or more crew members including stewardesses, engineers, mates, deckhands, scuba dive masters, and more. Two sub categories of yacht chartering will also be available. One will be un-inspected passenger yachts, also known as 6-packs which carries only six or fewer passengers. All captains will start out by getting their "six-pack" licence which must be issued by the Royal Mount Vema Coast Guard. 6-pack yachts according to W-Southern, will be ideal for smaller groups of six or less, and these yachts have a variety of types and sizes. For example, six packs can be sailing yachts, fishing boats, or power yachts and anything in between. While this type of charter will be the least expensive of the two, people will still need a licensed captain, or skipper with them at all times. On six-pack charters people will be able to choose their menu and the type of cruise they wish to take be it to liveaboard in Mount Vema, diving expeditions, deep sea fishing and visit different sites during and after the City of Mount Vema construction, or an ocean adventure voyages to the South Atlantic Islands, South America, Southern Africa and beyond. The other option will be the inspected passenger vessels. Inspected charters are designed to carry groups large than six passengers. These charter vessels can range from large sailing yachts to dinner cruise ships. These charters will be designed to carry up to several hundred passengers. Inspected vessels will offer many different features that an un-inspected passenger yacht cannot. Features like catering, live music, or a DJ will be available on these larger ships. Prices will vary the cost of a chartering will be determined by several factors including the size of the yacht, its age, its pedigree, the number of crew, and the destination. W-Southern range of charter prices per person per week will start from the equivalent of 500 golles up to and in excess of 10,000 golles. Mega Yacht or Super Yacht that are over 150-foot to 300-foot could cost anything from the equivalent of 25,000 golles up to 350,000 golles per week. Experts with links to the City of Mount Vema developments projected that Mount Vema lifestyle and the increasing demand for deep sea fishing and spearfishing adventures will lead boom of yacht berths in the region, W-Southern said. Demand for deep berths in the South Atlantic especially from commercial vessels crossing the South Atlantic and the Indian Ocean to the Americas and vice-verse was initially the only expected visitors to make Mount Vema prime location to harbor in times of rough seas.
However, according to W-Southern which is currently the only transport company licensed to transport passenger to and from the Vema Seamount territorial waters, demand for docking facilities will not only come from commercial vessels but also from yachts as boom in demand for deep sea fishing and spearfishing, means that top-quality large super-yachts, and deep berths will be at a premium in the Vema Seamount Territorial Waters. With the new marina developments that will take shape in Mount Vema where super-yacht owners and lovers of sailing adventures will be able to dock and set sail to explore the South Atlantic, South America, Southern Africa or the Indian Ocean as far as Seychelles and beyond and return. Half of the world’s yacht fleet at any given time are based in the western Mediterranean, but Mount Vema is aiming to create similar facilities in the South Atlantic to host super-yachts by building and making available moorings and facilities to make the Vema Seamount Territory a regional destination of choice for owners of luxury yachts and sailing adventures. Berths in Mount Vema are already seen by some as a big investment opportunity as it will be one of the few ports in the region that will be catering exclusively for yachts longer than 80 metres. The Mount Vema government is now working to attract companies, who focus exclusively on the acquisition and development of new marinas and related properties. It’s easy to see why marina berths are big business from the big development in Asia to marina developments in the Caribbean. It is not that long since the 15-year lease on a berth for a 70-meters yacht sold for just over 2.5 million golles (about $5 million US dollars), as the whole world is waking up to the many attractions and advantages that accompany the sport of sailing. A growing number of companies are listing on the Mount Vema Stock Exchange, according to a new data released by the Gollexi. But why are they listing and why on the Gollexi? According to economists at the Royal Mount Vema Foundation Academy, companies are not just listing because it creates a market for their stocks, or because it increases a company's ability to make acquisitions, but most importantly, they’re listing because it provides access to capital.
The Mount Vema Stock Market is less than a decade old and already has a total market capitalisation in excess of 2 billion golles and is expected to exceed 100 billion golles by 2020. The market aims to be the largest stock exchange in Southern Africa, including the South Atlantic and the region's most internationally focused as the regional financial center with all the major banks already signing up to have representative offices in Mount Vema. Any company considering an IPO on the Gollexi market, the Mount Vema Stock Exchange, must first identify what steps should be taken towards achieving that aim, as the Gollexi is already becoming well-known for its high standards of regulation. Careful consideration should be given to the following issues in preparing for a listing: Deciding on the method of listing, e.g. an introduction to the market, raising new money, a public offer or a placing to institutional investors. Any Company and its lawyers will need to consider how best to approach the listing in terms of the Company’s corporate structure and financial reporting history, given that the Company is not registered with the Kingdom of Mount Vema. Key issues will include whether the Company itself should be listed or should a Mount Vema holding company be created for the purposes of the listing. Have the Company’s accounts prepared in accordance with International Financial Reporting Standards (IFRS). Due Diligence - as regards to legal and financial due diligence for the IPO, this will understandably be a time consuming process. Early preparation particularly as regards collating and centralising material contracts is important. Tax - If the Company needs to be reorganised as part of the review of the corporate structure then any tax impact will need to be considered well ahead of time to ensure that any necessary tax clearances from the relevant fiscal authority can be obtained. How much does a listing cost? The total average fees for a main market listing depend on the size, sector and structure of the Company coming to the market as this affects the nature and level of due diligence required. The base level for admission costs would normally be in the region of 250,000 – 500,000 thousand golles. On top of these fees, the Company will need to pay the broker’s fees for raising the funds (unless listing by way of an introduction) which may be in the region of 4-6% of funds raised. The Gollexi calculates on the number of stocks of a listed security but they are capped at 500,000. The annual fees are approximately 50,000 golles. It is difficult to be precise on the length of time for a listing since the process is influenced by so many variables being the size, sector and structure of the Company, the method of flotation being used and the degree and complexity of due diligence which has to be conducted. Most flotations take approximately 4 to 8 months from the time that the decision is made to admission. The process is complex and time-consuming and identifying a small team within the Company to commit their time and energies to driving the listing may be worth considering as it may be less disruptive than having all the directors continually interrupted during the course of their normal work. However, either approach will still require all the directors at some stage or another to provide documentation and information and review the listing documentation. Companies need to appoint the following: Investment bank to manage the IPO process and co-ordinate the listing with the other advisors. Often, it will also act as financial adviser, sponsor and underwriter. Normally, the lead bank acts as global co-ordinator and a number of banks will also be appointed as bookrunners. Lawyers are required to advise the Company itself, as well as any stockholder who is selling all or part of its stake as part of the IPO. The sponsor and underwriter will also require lawyers. The Company’s lawyers will be responsible for drafting the ‘back end’ of the prospectus which contains all legal information relating to the company including stocks capital, material contracts and litigation. They will also manage the ‘verification’ process, which seeks to ensure that the prospectus is not misleading in any way, thus protecting the directors of the Company against any claims by investors. Reporting accountants, these must be separate from the Company’s auditors, although they may be made up of a different team from the same firm. Essentially, the reporting accountant is responsible for reviewing the Company’s financial record and internal systems for potential investors. They will prepare the long form report, the short form report (which is published in the prospectus) and the working capital report. PR Consultants, the PR consultants will help to generate positive publicity and interest in the IPO by targeting either investors among the general public or institutions or both. The Company, among many other things will need to appoint registrars, a receiving bank and any other advisors that may be required in relation to its specific business. More information is available at the Gollexi or by contacting the relevant government department through the contact page at the www.mount-vema.com The Vema Seamount Authority announced today plans to reconnect with U.S. retail giant Walmart after six years, when the first contact was made. Another clear indication that the Kingdom of Mount Vema is back in business.
The initial contact with Walmart was first made in July 2012, when the government’s ambitious investment drive programme, was officially launched, and Walmart Inc. the American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores responded warmly to the invitation to invest in the Kingdom of Mount Vema. In a letter, back in 2012 Walmart responded positively to the Royal Mount Vema Embassy’s ‘preliminary’ request for Asda Group Plc to indicate if they would be interested in taking up the offer to enter the Kingdom of Mount Vema’s expanding economy. The letter was signed by Leigh Hopkins, then the retail giant’s Vice President: ‘As you may know,’ he said, ‘we are always looking for new markets where we can improve the quality of life of people through our everyday low prices.’ ‘We will keep your comments in mind in case opportunities arise in that area at the appropriate time.’ Hopkins, who is also responsible for the International Business Unit of Walmart, was responding to the then Royal Mount Vema Embassy’s Honorary Consul’ s proposal to Asda Group Plc for the supermarket chain to invest in Mount Vema. Now the appropriate time has come. Mount Vema is ready for Walmart and contact will be made this month as The Vema Seamount Authority continues his tireless efforts to find reliable partners and suppliers for the City of Mount Vema Project. The Mount Vema Monarchy is keen to have Asda Group Plc on board because the company has the ability to create a reliable distribution infrastructure with the backing of its parent company Wal-Mart Plc, which would create an inflow of jobs to the already vast empire that is Asda and it would allow Asda Group Plc to create a larger international presence alongside any financial rewards it may gain. The proposal, presented to Asda about six years ago, was part of His Mount Vema Majesty’s government’s deliberate investment drive to lure major international companies to tap into the kingdom’s developmental projects. Other companies targeted back in 2012 that will be re-approached by the government includes retail giants Tesco, Alliance Boots, mobile phone operator Vodafone, and financial service providers HSBC Holdings, Barclays, JP Morgan Chase and Goldman Sachs banks. Gollexi, The Mount Vema Stock Exchange was up today after WIBMOR, the logistics company of Mount Vema decided to diversify its portfolio for the first time after making more than a million golles in the Mount Vema stock market when it sold 100,000 stocks at the Gollexi for 11.01 each to institutional investors.
Now, with enough cash to spend, WIBMOR has decided to diversify starting with an initial investment of about 200,000 golles in MVG-Bond (10 years government bonds) and RBMV Bank stocks. WIBMOR’s move is likely to be followed by many traders tomorrow when the market reopens at 9am after rumours that foreign companies seeking to join the Mount Vema market have signalled intention to start opening bank accounts with the RBMV Bank to facilitate their application for government contracts. A Gollexi trader who wished to remain anonymous told VSBCnews that “This are exciting times. Something big is about to happen. The time to invest in now.” He said, and he may be right, Mount Vema has many listed companies with cash to spend after making millions in the stock market, all looking to diversify their investment portfolios. We tried to contact WIBMOR but couldn’t reach anyone for comment. If you are following the developments, you can just feel it in the air, everyone seems to be ready. The price of stocks, notes, bills and bonds are likely to go up. Something is up, maybe it is time to buy. The 10 Year Government Bond is up 11% and RBMV Bank stocks closed at 0.20%. |
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The Legal Entities of Mount Vema
COUNTRY
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COUNTRY CODE
COUNTRY CODES IN USE Mount Vema Country Code: OV / MOV Mount Vema Numeric Country Code: 507 Currency Code: VSG Top-Level Domain: .com, and .ov (proposed) Proposed Telephone Country Code: +294 |
International Treaties – Ratified by the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea) MARPOL 73/78 (Convention for the Prevention of Pollution from Ships) The Vienna Convention on Diplomatic Relations of 1961 The Vienna Convention on Consular Relations 1963 |
State Alert! – Security, Public Safety and Emergencies
YELLOW WARNING official advise to be aware. >>>
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AMBER WARNING official advise to be prepared. >>>
RED WARNING official advise to take action as instructed by the emergency services. >>>